SAIL FPO likely in Oct-Nov

Jul 14, 2010 |

Correspondent

State-owned SAIL may launch its 20 per cent share sale plan, which could generate up to Rs 16,000 crore, by the third quarter of the current fiscal, a top government official said. “I am hopeful of getting clearance from the Appointments Committee of the Cabinet by this month on restructuring of SAIL’s board.
If the approval comes this month, we will trigger the remaining process by next month, so that the FPO
can come by October- November. That is what I am hoping,” the Steel secretary, Mr Atul Chaturvedi, said. In April, the government had cleared the proposal to sell 20 per cent equity in India’s largest steel maker.

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